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20121130
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CNBC
Nov 19, 2012 7:00pm EST
steam. can israel sweep out the terrorists before the plot stops. and paul progress. a 91% tax rate. whoops. wait a minute. we have three recessions. or have you forgotten? kudlow style. first up tonight, stocks look very optimistic today. the dow gained 208 points. the s&p 500 surged by 20 points. let's go to liz saunders and brian, the co-founder of shelter capital. welcome back. i want to quote you from my pal and your pal who said on the air this morning on cnbc that if we get a resolution of -- if we extend tax rates, jeremy said the dow can hit 17,000 next year. 17,000 next year. liz ann, i ask you what do you make of that. >> i'm wearing the. >> the i do think that the market would react. a true sign that we would have a compromise here. >> what do you think about 17,000? you and i haven't talked in a while. is such a thing possible? >> yes. don't ask me for a time frame but i think it's certainly possible. i think when you think about how this rally has been for three and a half years and many of the participa participants have been sitting on the sidelines. it is, in my min
CNBC
Nov 14, 2012 7:00pm EST
, israel gets their man with this missile attack on the military leader of hamas. now, israel is launching a full-scale ground attack on the hamas terrorists which are backed by iran, of course. by the way, this is all happening while we have no cia director here at home. >>> first up today, in his first news conference since being re-elected, president obama, with rhetoric sometimes reminiscent of his tax-the-rich campaign mantra, he appeared to dig in his heels on extending tax cuts for the wealthiest americans. take a listen. >> there is a package to be shaped. and i'm confident that parties -- folks of good will in both parties can make that happen, but what i'm not going to do is to extend bush tax cuts for the wealthiest 2% that we can't afford and according to economists, will have the least positive impact on our economy. >> all right. i don't know about you, but to me, that sounds like a fairly staunch and unwavering position. and yet, the president did insist he's staying open to new ideas. take a listen to this one. >> i am open to new ideas, if the republican counterparts or so
CNBC
Nov 15, 2012 6:00am EST
they think we could find compromise. and we're also watching the situation in the middle east. israel launching a major offensive against palestinian militants in gaza. israeli aircraft tanks have pounded the coastal strip. in response more than 100 rockets have been fired. martin fletcher will join us with the latest. oil prices off by about nine cents. crude oil at this point 86.23. steve, a lot of ground to cover and you have more of our other headlines, as well. thanks for being here. >> good to be here. china's ruling communist party unveiling its new leadership team today. vice president xi jinping taking over from hu jintao. he'll head a team of seven members in the new politburo standing committee compared to nine. they'll have to tackle everything from social unrest to issues with domestic and global economics. back here in the u.s., reports from walmart and target. at 8:30, we get weekly jobless claims. october consumer price index. and the november empire state survey. in corporate news, bp expected to pay a record u.s. criminal penalty and plead guilty to criminal miscondu
CNBC
Nov 16, 2012 7:00pm EST
for our economy. so the question is now another topic. will israel launch a major ground operation to wipe out hamas? the israelis did take out another top hamas leader today. not long after, air raid sirens went off in jerusalem, and egypt sends its prime minister to the gaza strip in a show of solidarity with the -- and did general petraeus pull a 180 degree turn in testimony today? in september he said it was videos and spontaneous demonstrations. today he said the cia knew all along it was a terrorist attack in libya. this story gets worse and worse, more and more complicated and we are going to parse through it. first up, with the fiscal cliff only 45 short days away, are we facing a stalemate or is there a new kissy huggy era coming to washington, d.c.? we've got two kissy huggy cnbc contributors. jared bernstein, former vice president, biden chief economist, and kissy huggy jim pethokoukis of the american enterprise institute. jimmy p., i love this new washington picture. and i don't want to be pessimistic. i want to be optimistic. maybe they can make a deal. but here's what i worry
CNBC
Nov 15, 2012 7:00pm EST
. this is war. question, is this war going to spread? next question, why shouldn't israel just wipe hamas out for good? we are learning that president obama wants more tax hikes than any would imagine. it's the second story. that moves us close to stalemate and recession. that's right. still not much talk about spending cuts. so tonight we have budget cutting hawk jeff flake, the senator-elect from arizona. then there's this -- >> watch out. they're stealing the hostess twinkies. >> watch this. here's your reward. >> thanks! >> the question is, will the union succeed in stealing the twinkies forever? the ceo of hostess speaks out and speaks to us about this subject. >>> first up, breaking news out of the middle east. at this hour, israel giving the green light to call up 30,000 reserve troops and is moving forces toward the gaza strip. this is war. this after tel aviv came under rocket fire attack for the first time in 20 years today. and where is president obama on all of this? let's get right to our special guest this evening. we have former assistant secretary of state rich williamson and
CNBC
Nov 21, 2012 7:00pm EST
to be realistic. i'm reporting what i'm hearing. but stocks did rise a bit on news after cease-fire between israel and whhamas. is israel snaf particularly when we know that palestinians and gaza may just rest unand rearm for the next round? >>> finally as you head out into the thanksgiving traffic, ask yourself where president obama still hasn't given the green light to the keystone pipeline that would give us jobs and energy n independence? now a truly bipartisan group of senators is telling the president to make a decision right now. first up this evening, this is the big question. will we get a deal done or might president obama just let us go right over the fiscal cliff, take the recession, and simply blame the gop? this is a serious question that i'm hearing from washington all the time. so let's talk. we have cnbc contributor jack bernstein, former chief economist, and art laffer, former reagan adviser. i'm not attacking obama or anything. i'm just saying there is a lot of talk of stalemate. well perhaps go through where, why and how. staffs have been meeting unsuccessfully. some people are
CNBC
Nov 15, 2012 4:00am EST
three in israel. the u.n. warns netanyahu to avoid a new cycle of blood shed. and president obama throwing down a challenge to congress as he gets set to begin critical budget talks on friday. >>> i want to bring you the italian gdp figures. italy is just the latest p second quarter figures were revised higher to 0.7 contraction from 0.8. third quarter gdp looks like it's fallen 0.2% on the quarter. that's better than was expected. it was expected to fall by about half a%. it is down 2.4% on the year. we'll get the rest of the eurozone figures out at the top of the next hour. >>> also coming up, we'll be live in beijing with updates throughout the show as xi jinping it takes over as the head of the communist party. we'll be in frankfurt for a look at how that economy has been affected. gdp showing a slowdown for germany in the third quarter. and we'll hear from the former head of the council of economic advisers austan goolsbee on how the u.s. can avoid falling off the fiscal cliff. plus we'll take you live to tokyo with japan hit by election fever. the yen is falling as a repeate
CNBC
Nov 20, 2012 7:00pm EST
to the war in the middle east. still no cease fire deal. israel. you will never guess which target they took out today. that whole story continues and is up next. and she became the full time mother of three. it was soccer, and ballet, and cheerleading, and baseball. those years were crazy. so, as we go into this next phase, you know, a big part of it for us is that there isn't anything on the schedule. as part of a heart healthy diet. that's true. ...but you still have to go to the gym. ♪ the one and only, cheerios sven gets great rewards for his small business! how does this thing work? oh, i like it! [ garth ] sven's small business earns 2% cash back on every purchase, every day! woo-hoo!!! so that's ten security gators, right? put them on my spark card! why settle for less? testing hot tar... great businesses deserve great rewards! [ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet? here's your invoice. >>> welcome back to the kudlow report. it seems like everywhere
CNBC
Nov 21, 2012 12:00pm EST
're following today. the ceo of israel based soda stream speaks to us live as a bus bombing rattles tel aviv. but first, let's get to the story all of wall street is watching and that's the trading scandal that is embroiling sac capital. kate kelly has the latest. >> thanks so much, scott. there's a lot of talk of course and one big question given this is just the latest development in an ongoing federal investigation of potential insider trading dealing with former employees of the firm, but yesterday's news which involved the arrest of a former sac employee appears to have drawn stevie cohen into the fray as well. although he is not named by name in the federal or s.e.c. complaint, it clearly seems to be he who discussed one of the trades involved with this former employee and in fact authorized the trade to take place although we don't know what cohen knew about whether the information was ill gotten or not. so the question now becomes what is the investor reaction? are people thinking of redeeming the money from sac or not? this is a firm that has really outperformed, especially in recen
CNBC
Nov 22, 2012 4:00am EST
on to the streets to celebrate as cease fire ends eight days of deadly strikes between israel and hamas. we kick off three hours with the euro son flash services pmi, 5.7. a little weaker than consensus. lowest since july 2009. business expectations 48.6. manufacturing manufacturing pmi 46.2. composite pmi as a result 45.8, which is pretty him bang in line with the reuters poll. so service sectors worst since july 2009, decline in manufacturing eased a little bit more than expected in november. joining us, chief european economist. ricar ricardo, thanks for joining us. so still a negative territory. what does this point to in terms of the economic decline for the fourth quarter? >> i think it's in line with the idea that real sgchlt dp will decline by at least 0.2%, possibly 0.3%. it will give us a negative entry point in 2013 when i expect an average growth of minus 0.2%. so still moderately recession territory. >> the german flash composite pmi 47.9, services 48, manufacturing 46.8, is germany -- we just saw the 0.2% print. is girl aermany going to have a negative contract? >> i'm looking for a co
CNBC
Nov 16, 2012 1:00pm EST
-day war that jerusalem had been hit by rocket fire. israel now considering calling up 75,000 reservists. that is a big deal. this picture near the gaza-israel front just came in. israeli crews preparing tanks for a possible ground incursion now. here is video of israel intercepting a rocket fired from gaza heading for a town in the southern part of the country. in the two days since israel killed hamas' military leader in response to a wave of rocket attacks against civilians in southern israel, israel's main stock index, the tel aviv 25, has fallen 2.5%. tel aviv stock exchange operates sunday to thursday. it's therefore not open today. israel stocks that trade in the u.s., of course, are active today, and that includes -- look at that picture. that includes teva down 4% for the week. givin, down 4%. they are the ones that put the camera in the pill. internet security firm checkpoint down 2%. israel's cell com is up this week based on solid earnings. israel's last major fight before this was also in gaza. in 2008 and '09, the israeli market was 12% higher just one month after the fight
CNBC
Nov 20, 2012 4:00pm EST
on a cease fire yet. we will get a front line report on the talks between israel and hamas militants. >>> also with us, bank of israel governor stan fischer gives his assessment of the financial impact of the latest conflict. why the rest of the world and the usa needs to monitor this. don't miss my interview with stan fischer coming up. americans are always ready to work hard for a better future. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ >> welcome back. >> looks like a beat on the bottom line. reporting at 33 cents. a penny better than expectations. revenues were higher as well. and the firm is also boosting its full-year guidance. now expects to book more than $4 billion in revenues coming up in the next year. that's above the expectation on the street. they sa
CNBC
Nov 19, 2012 4:00am EST
-fire intensifies, israel's foreign minister says he sought a long term arrangement arguing any discussion must begin with gaza agreeing to stop all fire into israel. are we going to see more of a premium put into global risk trades now, as well? >> the oil price is the real issue here and that is the factor that could make or break global growth. we've seen a fairly reasonable decline over the past you few months in response to the slower global growth story. if you start increasing the oil price because of tensions in the middle east, and the moves we've seen so far are not substantial, but if we start getting towards $95, $100 a barrel, that starts to put even more economic headwind in you like in the way of the world and that would be a very bad thing. i think it's likely to remain a relatively localized conflict. the risk is if it broadens out further, we still have the issue of iran and what would happen there. something happening there could see the oil price spike to 140, 150. >> i hear what you're saying it potentially remaining ale loized issue in israel, but at the same time, i was s
CNBC
Nov 16, 2012 4:00am EST
. >>> welcome to "worldwide exchange." these are your headlines. air strikes between israel and gaza continue. the egyptian prime minister vows to spare no effort to achieve a truce. >>> in 30 days, japan may see its seventh prime minister in six years as the country dissolves its lower house and sets the stage for a possible comeback. >>> and president obama meets with top u.s. lawmakers to begin budget talks as the fiscal cliff looms. both sides are digging in their heels on on tax hikes and spending hikes. against all of the political changes we're seeing today, first i want to show you the market action. stoxx 600 is sitting roughly flat, but we've seen interesting trading session where the nikkei really surging to the up side again today. more on that in a bit. take a look at what's happening across europe because after a couple of uglier days in the market, we're seeing something of a comeback now led by technology, retail stocks are also in the green, food and beverages, autos among the sectors dragging on the in-dek. we can take a closer look at the bourses. ibex is
CNBC
Nov 21, 2012 1:00pm EST
's time a cease-fire will take effect in israel. israel and hamas have agreed to stop the shooting, end days of rocket attacks and bloodshed. it is officially set now to go into effect at 9:00 p.m. local time, 2:00 p.m. eastern time here in the u.s. the deal announced by the egyptian leader, mohamed morsi, and secretary of state hillary clinton. it was later confirmed by israeli president benjamin netanyahu. comes just hours after a bomb blew up on a bus in the heart of tel aviv. dozens were injured. so far no claim of responsibility but hamas called it a blessed event. within the last few hours, israeli air strikes continued in gaza. this is video of secondary explosions when an hamas weapons depot was hit. michelle caruso-cabrera, our chief foreign correspondent is watching reaction at the nyse. michelle? >> that pushed the dow to the highs of the session. the announcement of the cease-fire got us another 25 points. we have come off the highs, 12,839 is where the dow stands right now, higher by more than 50 points, .4%. president obama reportedly just spoke with israel's prime ministe
CNBC
Nov 14, 2012 3:00pm EST
, israel launches a massive military operation in response to hamas. >> gold also higher. one of those days where energy went higher and stocks went lower. we're setting lows right now. the dow down 126 points at the 12,629 level. the nasdaq and s&p are also moving lower. the nasdaq has moved into correction territory, down about 10% from its highs set earlier this year. the s&p is down sharply as well at this hour. so it was those fed minutes, the continued fears we may go over the fiscal cliff as the negotiations are being carried out so far in a very public arena right now. we are off the worst levels of the day, but will these concerns keep investors out of the market right now? let's talk about that, shall we? >> that's what we want to in today's "closing bell" exchange. neil, let me kick this off with you. good to see you. thanks for joining us. as somebody who's putting capital to work in this market, you see a market that is down 600 points on the dow industrials. just since the election, that's 4% declines since the election on november 6th. what do you want to do here? do you want
CNBC
Nov 19, 2012 6:00am EST
today as violence between israel and the palestinians escalated. tenks of course flaming concerns about supply disruptions. ands you can see, wti crude trading at 87.83. as for the broader markets, you'll see the the dow futures are indicated higher by about 70 points. s&p futures indicated by over 9 points. but this is coming as stocks are coming off four straight weeks of declines. at this point the dow is down more than 7% for the last month. largely because concerns about the standoff in washington over how to deal with the fiscal cliff. well talk about all of these issues at play with two special guest hosts. wharton professor of finance jeremy siegel and trusted american businessman steve forbes. both onset and ready to start this discussion at 6:00. first, though, andrew has a few of the top business headlines. >>> let's talk about some of the headlines this morning. cisco systems buying cloud network start up meraki for $1.2 billion in cash. it was founded in 2006 by members of m.i.t.'s laboratory for computer science. joe, i don't know if you take credit for any of that. bp pla
CNBC
Nov 19, 2012 9:00am EST
recovery. >> international pressure mounts for israel and gaza to agree to a cease-fire after a weekend of air strikes leave a dozen dead and hundreds injured. brent continues to climb with gold going higher. >> the president and congress will strike a deal to restore the fiscal cliff. over the weekend in asia, the president said he's confident we can get the fiscal situation confident and reached out to ceos including tim cook, warren buffett and jamie dimon. after top house and senate leaders say friday's meeting was constructive. we see headlines that may bring news to other companies. intel ceo paul otellini to retire. >> during this period where a lot of companies moved toward mobile, was not pioneer mobile. arm holdings to go a bunch of shares. this may be a positive -- viewed as positive for intel. >> they will conduct a search or process to choose otellini's successor. will consider internal and external candidates. he's been at the company for 40 years. only the fifth ceo in 50 years. a company has had long service from those in its ceo position. again, he will step down at the
CNBC
Nov 21, 2012 4:00am EST
to broke aerodeal between israel and hamas. strikes on gaza and rocket attacks into israel continue. >> you're watching "worldwide exchange," bringing you business news from around the globe. >>> all right, we're into hump day, the day before thanksgiving, of course, as well. on today's show, we'll have updates from athens and brussels as the eurozone ministers fail to ruse a deal for greece. air strikes and rocket fire continue in the gaza strip in tel aviv, as hillary clinton urges both sides to diffuse violence. we'll have the latest live from zree israeli. we'll also take the pulse of the polish country. analysts from warsaw 40 minutes from now. >>> we'll be in providence, rhode island, to preview travel ahead of the thanksgiving holiday with the head of operations at peter pan bus lines. >>> but first, after nearly 12 hours of talks, eurozone finance ministers have failed in their quest to agree conditions that would have allowed the next chance of bailout cash going to greece. what's next? what's gone wrong? we'll be joined by jules in athens in a few minutes. but let's start off with
CNBC
Nov 19, 2012 1:00pm EST
attention focused on israel and hamas, maybe the markets and the world should focus on this rally in amman, jordan instead. see why this could shake up the reason beyond anyone's worst fears. >>> michelle is in for sue today at the nyse. welcome, michelle. >> hey, tyler. thanks. we got a nice triple digit rally today. going to start with a market alert on this big day for the markets. robert pisani, what's the story about why we're climbing today? >> nobody is around in congress to say anything bad about the fiscal cliff. everyone said, hey, we're looking good! president in bangkok said things are looking good. pelosi came out, representative pelosi, speaker of the house, said we can do a deal. everybody's happy. then they all left. there is a recess. nobody's coming back with a fiscal crisis. a week and a half. >> that means there's no bad news. >> what sectors were most beaten up in the recent election? tech, telecom, energy and utilities. what sectors are up the most today? tech, telecom, energy and utilities. >> coincidence? >> wall street. don't you just love the whole thing? >>> the
CNBC
Nov 8, 2012 7:00pm EST
by the american people. they will go forward. >> what about israel in this scenario? what are they going to do as the supreme leaders meet in tehran? >> israel has confidence that iran is not fair minded and is a predator state. and, therefore, no matter how long this is dragged out, iran will get more and more concessions before it becomes impossible. for example, one of the concessions i'm told is israel wants the united states to agree that a third party killed iranian nuclear scientist. they're looking for us to endorse their law gambit against israel. they want us on their side against israel. >> boy, i think this is pretty farfetched -- >> it is. it is farfetched, larry. >> john bachelor, thank you very much, my friend. hope to see you soon on the radio. >>> so, folks, the stock market slump continues on wall street. since president obama was re-elected the dow's lost about 450 points. my next guest says put fiscal cliff fears to bed because a deal will be reached. here now is ken hebner of capital growth management. ken, as always, it's great to see you. all right. i'll put the fiscal c
CNBC
Nov 15, 2012 5:00pm EST
militants will, in fact, pay for the blood that was shed in israel. is this sabre rattling? because the interest of israel is not to get into a real skirmish with gaza. >> the problem is that hamas now has a missile to reach tel aviv and that's unacceptable. that's a red line for israel. the israelis probably don't know how many they have. they don't know where they're located. therefore the attack is very complicated. you can't do frit the air. you'll have to go in on the ground. it's going to be bloody and miserable. the israelis would rather not do that. the palestinians want them not to do that. but hamas really has put itself in a position where it has a weapon that will compel the israelis either to step down or go to war. the israelis are giving every sign that they're going to war. >> if they go to war, though, that brings in also egypt, its new president supports hamas as well as iran. iran funds and arms hamas. so that doesn't seem like anything that israel would want to do. so at this point, where do you place the odds of there actually being a conflict? >> pretty high. f
CNBC
Nov 21, 2012 9:00am EST
in israel with a bomb explosion on board a bus today and a rumored cease-fire that never happened. crude is up $1 as the secretary of state has arrived in cairo. a big day full of planes, trains and automobiles with tens of millions of americans set to embark on their holiday weekend journeys. our phil lebeau is in chicago with more on the holiday travel landscape. how painful is it going to be? >> you know, carl f you're traveling, you always need a little more patience thanksgiving weekend. for the airlines, they're keeping their fingers crossed because if you look at a map of the united states, you really don't see any major storm systems. that means if it's a smooth weekend, you talked about this being important to the profitability of fourth quarter, that's certainly good news for the airlines. take a look at the number of people who will be traveling this thanksgiving weekend. just under 44 million people. that's a slight increase from last year. the average amount they're spending, that's down 10%. less than $500. why? in large part it's because fewer people are flying. they're no
CNBC
Nov 15, 2012 9:00am EST
'm neutral on the stock, i think it's currently overvalued at its current price. >> israel launching a major defense against palestinian militants in gas sachlt we'll take you live to gaza, plus the impact it could have on the energy prices here in the u.s. >>> citi shares trading well below book value and several share holders requesting the board do a breakup of it's shares. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. >>> let's get to a market flash. >> we're looking at some of the s&p lows today, a number of energy names there. a couple of headlines crossing th that -- on a civil complaint charge there, of course the utilities have been under a lot of pressure, guys, since
CNBC
Nov 21, 2012 5:00pm EST
on the israel hamas cease fire. oil on the rise. why are they rallying and how relevant is peace in the middle east at this point? because trading oil wasn't that decisive. >> it was decisive in the beginning. really when everybody realized it wasn't so much of a cease fire. they shoot bombs. >> celebratory shooting. >> that was good. it is very important because it's not just about a small little and this isn't a small dispute. it is not just a small piece of land. it is bigger than that. it is with israelal and iran. that is what you have to worry about. this is not done over there. it is definitely something you need to pay attention to. oil reversed and closed higher today. the oil market does not believe this is over. >> at the end of the day it doesn't matter that iran is far from israel. therefore if iran gets into the conflict how would it get into the conflict and would it disrupt supplies and is it a contained battle? >> i think people are focusing on the iran part. if anything is in place where maybe we have gotten to a place where iran is ready to give in. that meant more supply co
CNBC
Nov 14, 2012 5:00pm EST
and the impact on oil prices. take a look at this incredible video from gaza. israel launched an a air strike. crude immediately spiked. where do you put this? we know there are tensions between hamas and israel. >> i don't think so. i think this is a bigger issue than people made out today. we are used to that rhetoric but you are starting to see the rest of the middle east get involved. we saw egypt pull the ambassador from israel. and this is not the normalal lobbing missiles back and forth. this is something very different. i bought oil on this. i bought rent oil and that is the way to play it. >> what are other plays? >> i was surprised oil didn't give us more. this was a meager response when there is a box in syria and we are not seeing a bid to oil and commodities. cftc longs in the commodity space are three-month lows. copper is a space i want to sniff around. >> house speaker boehner is speaking responding to the president. >> united and focusing on their top priority which is jobs. i'm proud of my leadership colleagues who have been elected today to serve as our leaders of the next
CNBC
Nov 19, 2012 12:00pm EST
. >> oil prices are jumping today as israel and gaza continues to trade rocket and missile fire over there with hamas. joining us now with the latest on the con applicant is nbc's martin fletcher live from tel aviv. >> reporter: hi, scott. conflict here is really reaching a fever pitch with israel still continuing to pound palestinian targets in gaza. palestinians say that the death toll there reached three pigs today important the first time over 100 palestinians killed and about 600 wounded by palestinian rockets. at the same time, palestinians firing more and more rockets into israel today. i spent the day in the south of israel and in the town where children were being bussed and put on the buses to the north and escape the bombing. the stores and mark wrets almost empty of people. and the sirens were sounding almost every half hour. shooting most of the rockets down. some of the rockets did for one rocket fell on a school which was empty because all the schools are being closed now for five days within a raid wrum of 40 kilometers of gaza. all eyes now on the israelis army poise
CNBC
Nov 15, 2012 1:00pm EST
on the network was with egypt and israel you're not going to interrupt the flow of oil, and therefore it isn't an oil event and therefore arguably not a market event. >> it may not be an oil event but i think it is clearly a global event that's going to cause investors to get nervous. what people get nervous, the first thing they want to do is feel safe. they want their money. >> kenny, we'll get back to you in a minute. >>> this one's going to cause a lot of outrage, i promise. the nation heading toward the edge of that fiscal cliff with sky-high deficits. while there's talk of cuts, cuts, cuts, a new report out today on waste in the federal government. eamon javers has details in washington. eamon? >> well, the new report is out from senator tom coburn, a republican from oklahoma up on capitol hill. in the report he accuses the department of defense of really becoming the department of everything. he says the pentagon's wasting a lot of money and he's found examples in the pentagon spending money on things like a study for a question of did jesus die for cling-ones, too. they've sponsored
CNBC
Nov 20, 2012 4:00am EST
meets in israel with netanyahu to try to see what she can do to get the cease fire in order. because this is day seven now of this conflict where it continues. overnight the israeli defense force targeted 100 different attacks within gaza by air and sea, targets they said were necessary to stop the flow of missiles and rockets out of gaza, underground bunkers, store am depots and even financial institutions for hamas. this morning militants within gaza responded with volleys of rocket there is to israel -- into southern israel in response to the overnight attacks. so there's a growing call for this cease fire particularly over 100 people killed within gaza now. 26 of those are children. so nearly a quarter killed has been children which is growing to the call of a necessary cease fire to figure out how these two sides can come to terms to stop this violence for now. >> okay on. thanks very much, chapman. shareholders of glencore have approved the deal with ex-trxst. we'll get more on that. but right now let's get the global markets report in singapore. >> composite slipped to a seven
CNBC
Nov 20, 2012 9:00am EST
're still watching what is happening in israel and gaza. the conflict there and uncertainty remains. focal point of many traders. the reason why perhaps we're not pulling back even further although many are anticipating we are going to see an increase in u.s. crude oil supplies when the energy department reports its numbers tomorrow. we'll monitor israel's situation because that's likely to have a very important effect on the oil price in this session. gold continues to trade in a range here. ubs saying there needs to be a significant breakout in this range for oil to have true momentum and on this short holiday week, it appears that many traders are just trying to cover their short positions and not really taking out new bets a at the moment but there are some taking out significant bets and there have been reports that george and john have added to their gold holdings. we have reported that gold etf holdings are at record levels. there are many that want to be in this complex but of course still right now we are looking at a slight pullback in the gold price right around 1730 an ounce. >
CNBC
Nov 20, 2012 3:00pm EST
between israel and gaza. sharon epperson is here with details. >> egyptian officials say there are talks ongoing to reach a truce in gaza. the language is going to be key here and whether or not there's a comprehensive deal, well, that remains to be seen. we are waiting to see whether or not a cease fire is officially reached by the end of today. that was the deadline that was set. obviously, these oil markets are anticipating that some type of deal will be reached. as you look at decline we've seen in the price of crude oil, both brent and wti erasing all of yesterday's gains. we're also looking at the supply picture, which may be weighing on u.s. oil prices as well. we're going to get a report from the energy department tomorrow about crude supply situation. it's expected to show an increase for the week. we're also going to get tomorrow the supply situation for natural gas, a day early because of the thanksgiving holiday. >> all right, sharon. thanks so much. meanwhile, shares of consumer electronics retailer best buy down again today. down about 13% today alone after a massive earnin
CNBC
Nov 12, 2012 1:00pm EST
problems right now. in the last two days alone, hamas has fired more than 100 rockets at israel. israel says it will respond when it's ready. today israel is responding to shelling from its troubled northern neighbor syria where a full-blown civil war is under way. iran, meanwhile, is holding a massive air defense drill just a week after firing on a u.s. drone in international airspace. but what if we didn't have to worry about any of those concerns anymore? well, according to the international energy agency, in 2020 we might not have to. sharon epperson is live at the nymex with the details. >> sue, there is in fact a major transformation that is under way in the oil and gas industry and particularly here in the u.s. and it is going to change the landscape dramatically. in just the next seven years. what the international energy agency is saying is that, of course, for many years, we have seen the concentration of the world's oil production in saudi arabia, and in fact saudi arabia is the second largest exporter to the united states of crude oil. but the iea says that the u.s. is going
CNBC
Nov 14, 2012 12:00pm EST
, this is hamas, israel. this is not iraq. this is not iran. this is not saudi arabia. this is over on -- near the sinai. very little crude oil involved there. in the past if you had crude oil in a bull market, this kind of news would have sent crude up $3. we're struggling to get over 85 cents at this point. as i said earlier, i think you sell into it. i don't think you buy this news. if you can only rally 85 cents on west texas. yes, i understand brent is up $1.56 but brent has been gaining on wti for a long period of time. i don't put a lot of credence in that. in the past, this kind of news would have sent crude up $3. >> coming up, places to put your money as the fiscal cliff looms. and places you might not expect. and president obama likely to get a lot of questions about the economy and the cliff at today's news conference. we'll bring it to you live when it starts around 1:30 eastern. our special coverage begins at the top of the hour at 1:00. if we want to improve our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent
CNBC
Nov 16, 2012 4:00pm EST
live to israel on this escalating issue. >>> also up next, do you care how old the plane you're flying on is? delta airlines is betting you won't. we'll have that story coming up next. >>> later on, it could be a sunny day for lionsgate as the "twilight" movie franchise takes a final bow with the release of the last film in the series. we're going to tally its mega box office take coming up. [ female announcer ] e-trade was founded on the simple belief that bringing you better technology helps make you a better investor. with our revolutionary e-trade 360 dashboard you see exactly where your money is and what it's doing live. our e-trade pro platform offers powerful functionality that's still so usable you'll actually use it. and our mobile apps are the ultimate in wherever whenever investing. no matter what kind of investor you are, you'll find the technology to help you become a better one at e-trade. >>> at delta airlines, what is old is, well, it's new again. the airline is buying 137 used airplanes, which it will then repurr bifurbish and add to its fleet. they say it's safe, but
CNBC
Nov 14, 2012 9:00am EST
of israel that israel has conducted a military action killing a senior hamas leader. an air strike in the gaza area killed the head of the hamas military. one of the things a number of traders heard about that earlier but one thing is an israeli military spokesman says this is the start of a broader operation. so that is one of the things. it seems to have the market a little bit on edge and has them bidding up oil at this hour. the one trader i talked to said between the tensions between israel and hamas if we'll see that spiking up obviously israel and syria over the last few weeks, that's better than israel and iran. back to you. >> that's true. bertha, thank you very much for that. congratulations if you are hold cisco shares coming into this session. they are experiencing a good bump on last night's results. we'll talk about what they are doing right and whether risks lie ahead next on the program and who would be affected the most if we go over the fiscal cliff? we'll get up close and personal with the cliff and as we head toward the break, another fiscal cliff fact. >> if la
CNBC
Nov 23, 2012 4:00am EST
. they approached the border with israel and it imposes a 1,000 foot buffer zone. but part of the cease fire deal was that after 24 hour, israel would loosen up some of the restrictions on its border, as well as some of its crossings. it seems as if this was a testing of the stipulation and what happened was a gun battle there on the border. already on on both sides, whether gaza or israel, there is not a lot of faith that the cease fire is going to hold. here in this country especially in the south, there was can it is investigation that the deal w distress that the deal was made in the first place. on the gaza side, there was a celebration what they're calling a victory in this conflict. >> stephanie, thank you for that. still to come, draghi is due to speak at the conference in frankfurt. when we come back, we'll hope that he'll be speaking. s if . >>> surprise increase in business sentiment in germany quells fears over a crisis. euro climbs just a little bit after the data. the latest draft proposal falls short of demands for spending cuts would i geby germany and b. and while an agreement in
CNBC
Nov 16, 2012 6:00am EST
of mark grant's stuff yesterday about the tanks on the border in israel and you have the fiscal cliff and you've got europe and -- >> the other thing that we're watching the market and we can't own individual stocks on things, but i have been putting money in the kids' college funds. because watching the climb where you think, okay, some day it will break and then i'll put money in, and when it did finally start to break, i was like okay let's put money in the kids' college funds and feel better about that. just mutual funds . >> remember the mayans. it's december. 200 rockets be fired from -- >> so are you calling for a faber style -- >> he scared me, too. i don't want to be left with 50% of what i have now. do you? >> not at all. but maybe that's a good reason not to by in. >> there's nowhere to hide. >> all the people selling now and going into treasuries. if ire worried we go over the fiscal cliff and we get our ratings downgraded again -- >> ever since the election, i keep trying to just focus right on what we're talking about and that is this high end marginal rates on the 250 a
CNBC
Nov 19, 2012 3:00pm EST
escalating between israel and gaza. now it's impacting energy prices. when we got married. i had three kids. and she became the full time mother of three. it was soccer, and ballet, and cheerleading, and baseball. those years were crazy. so, as we go into this next phase, you know, a big part of it for us is that there isn't anything on the schedule. is what drives us to broadcast the world's biggest events in 3d, or live to your seat high above the atlantic ocean. it's what drives us to create eco-friendly race tracks, batteries that power tomorrow's cars, nearly indestructible laptops, and the sustainable smart towns of the future. at panasonic, we're driven to make what matters most better. just another way we're engineering a better world for you. >>> superstorm sandy didn't derail the housing market after all. we have more good news out of that bee leagbeleaguered market >> they say sandy did not impact october numbers so much. it was only three days. we'll see the effects of sandy in november, however. overall didn't change the good recovery we're seeing in october. take a look. exist
CNBC
Nov 21, 2012 3:00pm EST
.25 points. fractional move there at 1379. meanwhile, cease fire between israel and hamas announced earlier today. we saw an immediate reaction in the market. take a look at this chart. the dow rallying as soon as the news hit the tape. >> we saw oil go down, as a matter of fact. things are coming back here. let's get to it with our next guests in today's close cl"clos" exchange. theoretically, the cease fire is an hour old. markets responded initially, but they've sort of regressed after that. you just saw the dow jones industrial average intraday. we saw a move to the upside. don't call it a super rally, but certainly definitive. the markets had been very nervous about whether the situation could eventually explode into something far bigger in the middle east. there's the intrasession for the dow as well. the news came along with secretary of state hillary clinton announcing that the egyptian foreign minister and the minute that happened, that's when we started to see the appreciation. again, we wanted to know this was not going to become something far wider in the middle east. we knew th
CNBC
Nov 23, 2012 1:00pm EST
. protesters accusing him of a coup. all eyes of course on egypt, as well as israel and gaza where the cease-fire is still in place. oil prices also saw additional port on the news out of europe, optimism over greece today. west texas intermediate closing above $88 a barrel, up 1% in this short rned session. brent risie ining as well but slightly less than that. >>> nonetheless, energy prices apparently are about to get lower. our next guest is talking 70s on crude for next year. john, why are you so bearish on oil for next year? >> a couple of things. global economy doesn't look all that great for next year particularly in europe. they have a lot to get together, the greece situation. we're also now -- >> it's going to get worse than it is this year. >> yeah. iea, opec itself all looking for demand declines next year in terms of growth. also, two things that bedevilled the brent market this year, troubles out of the north sea, constantly having problems with production. once that comes back online for any length of time, lower prices. similarly, i know all the debate is around the keystone
CNBC
Nov 14, 2012 1:00pm EST
. >> wouldn't be surprised. in just the last you few minutes we've gotten unconfirmed reports out of israel that they have targeted the home of a second leader, militant leader within the gaza strip. as soon as we know more we'll bring it to you. meantime, let's show you the video of what we do know happened this morning just released by the israeli defense forces. watch that car. that is not a car bomb. that is a targeted air strike by the israeli air force. inside that car is ahmed al gabari. the idf confirming they've killed him, the military leader of hamas. believed to be the mastermind behind the kidnapping of an israeli soldier in 2005, only released last year as part of a very dramatic prisoner exchange. israelis have been trying to get this guy for several years. the last time they missed, instead they got his son and the israelis made clear -- the israeli government made clear starting three days ago they were going to start to pick up their attacks in targeted assassinations of militant leaders within gaza because of rocket fire that had been coming from gaza in to israel. there
CNBC
Nov 14, 2012 4:00pm EST
. first, michelle, let me get your news, the latest on the attack out of israel on hamas. this, of course, another major news story today that we're following and the reason oil prices have spiked. >> the latest is the israelis have said there's going to be a lot more of what you've already seen. let's show you what's already happened. this video is incredible. it's released by the israeli defense forces. follow that car. what you'll see is not a car bomb. it is a targeted attack by the israeli air force. inside the military leader of hamas was directly targeted. this is operation pillar of defense. it was announced today on twitter by the israeli defense force. take a look at what the spokesperson posted on twitter. he said, we recommend no hamas operatives, whether low level or senior leaders show their face above ground in the days ahead. one of the reasons why oil spiked earlier. the israelis say this is in response to hundreds of rocket attacks coming into gaza over the last several days. >> all right, michelle. thank you. we'll come back to you as news develops there. i'm here now w
CNBC
Nov 30, 2012 4:00am EST
factor it in? >> certainly you could consider what will be israel's response in relation to the development of iran's nuclear program. now that we've passed u.s. elections, will they show up and potentially suggest military intervention. of course that kichd development could easily add $10 to $20 on the i'll price. relative to demand, i think we're more optimistic in the sense that we're seeing the u.s. economy turn around. we have positive readings in chinese pmi data. we short term we'll get a seasonal kick with winter setting in. so all of those aspects in terms of demand will be supportive of prices. but it's ultimately very difficult to sort of balance out the net effects of trend growth in the world economy versus supply side risk and geopolitical tension. we're typically constructive on oil prices, but again with an element of caution. there are other risks out there especially in the shoth term. concerns over the u.s. fiscal cliff, for example, is one of them. >> and as you mentioned, concerns about the relationship. a hoegs was passed by by a pretty good margin.
CNBC
Nov 19, 2012 5:00pm EST
-month highs as the attention between israel continues. would you be inclined to be long here? >> i was very bearish of crude oil. sometimes your best trades are the ones you get out of the way of. i said i understand what is going on in the middle east. this probably puts a bid to it. the term structure had begun to change. i covered shorts. i'm not long but i am not short. i was short. let's not mix words. i was short coming into this morning. i got out of the way very early. i think the fundamentals in crude oil are still bearish but sometimes getting out of the way of fast moving sleds is not a bad thing to do. >> thanks for your time. good to see you. >> thanks. always good to be here. let's trade oil and commodities. commodities overall were bid higher. the thing i don't get the complex trade is a gold trade. gold didn't do much from fiscal cliff fears. all of a sudden people are happy that there might be a deal here and we have gold rally. >> i think down days in the s&p leads to down moves in gold. typically it is what has been happening. i am in the camp that thinks gold is going mu
CNBC
Nov 16, 2012 9:00am EST
fighting escalate in the gaza strip as we continue to watch what israel and what palestinians are doing in the area and the fact that there does not appear to be any cease-fire on the horizon although egypt's prime minister is in gaza today urging some international cooperation. we're also looking at the fact that oil prices here in the u.s. have basically erased this week's losses because of the gains that we're seeing currently in the oil complex. we're also hearing reports about iraqi enjoy saying that arabs should use oil to press israel over gaza. those headlines helping to cause this bid in the oil complex. in the gold market, we've seen steady declines over the last several sessions and now a little bit of stabilization in the gold market. there are concerns based on the world gold council report about demand particularly out of china. we've seen the cme lower margins for gold and silver so that may have an impact on the trading activity from here. carl, back to you at the white house. >> all right. thanks so much. in a half hour from now the president will hold key meeting with
CNBC
Nov 20, 2012 1:00pm EST
, between israel and hamas and the islamic jihad. more power in two minutes. ♪ ♪ ♪ [ male announcer ] 'tis the season to discover the kid in all of us. the memories that last, start with the gifts that last. ♪ enjoy free shipping and great values on your holiday shopping from l.l.bean. [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your local mercedes-benz dealer. at your local when we got married. i had three kids. and she became the full time mother of three. it was soccer, and ballet, and cheerleading, and baseball. those years were crazy. so, as we go into this next phase, you know, a big part of it for us is that there isn't anything on the schedule. if we want to improve our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education
CNBC
Nov 21, 2012 4:00pm EST
fire was announced after israel and gaza. take a look at how we're settling the day on this market. up 48 points. volume on the light side, as you can see there. very light here as we approach the market closing tomorrow for thanksgiving and a short close on friday. nasdaq, s&p 500 also fractionally better on the session. more on the markets coming up. first, we have more breaking news as the bankruptcy judge green lights hostess brands to begin liquidation. the ceo of hostess brands joins me right now in a first-on cnbc interview. good to have you on the program. thanks for joining us. >> sure, maria. >> well, tell us, what happened first yesterday at final mediation talks? was a deal ever close? >> you know, the judge has a gag order. he'll have my head if i talk about what went on during the mediation, but i think that he wanted to make sure that he did everything in his power to try to find a deal, if there was one to be found. you know, i appreciate the fact that he went through that effort. i was hopeful, but i think realistically that was going to be a tough thing to pull off. >
CNBC
Nov 26, 2012 3:00pm EST
.s. and the fact we're still waiting to see what wloo this truce holds between israel and hamas, all of these are factors traders are watching. natural gas is the big story in the energy complex because it fell by more than 4%. the biggest plunge in 15 weeks. traders looked at the map of the country and saw warmer temperature as head. a reason for selling pressure. back to you. >> sharon, thank you very much. let's get to this stock that just will not die. we're talking about research in motion. shares have been higher after cibc raised its rating on the company. it's the latest upgrade for this left for dead stock, which rallied over 50% in a month ahead of its new operating system launch. so, can r.i.m. still run higher? that's what we're talking about. talking numbers with these two gentlemen on the technical side, carter worth on appearen hirm, steve cortez. carter, technically speaking, you like r.i.m., don't you? >> sure. here's the thing, this company makes no money. they're projected to make no money. it's the greatest boom and bust story ever. in the last five years it's dro
CNBC
Nov 26, 2012 7:00pm EST
with israel and hamas, okay? then the next thing we hear is he's giving himself, morsi that is, he's giving himself all these new powers and knocking down the judiciary which kind of, you know, smacks of authoritarianism. i thought the timing was very unfortunate, and i think a lot of people in the senate are going to make a big deal in the senate about it. >> clearly they don't have to make a big deal because morsi has already recognized he overstepped himself and is now pulling back. i don't know what the longer term will be, but it did show that he's a new power that has to be reckoned with in the israeli/arab dynamic in a way that as we're falling back, i mean, president obama has, unfortunately, lost credibility. morsi had already cut this deal for the cease-fire and he waited until secretary of state was there because no one wanted to embarrass the united states, but we weren't pivotal to it, so president obama has -- has an uphill climb ahead of him if he's going to get back in a position of power in the israeli/arab dynamic. >> all right. we'll leave it there. many things, former se
CNBC
Nov 30, 2012 6:00pm EST
in israel. the fundamentals are good. my friend who does breakout stocks tells meet fundamentals are terrific. i am a buyer not a seller. a lock. let's go to lee in california. lee. >> caller: mr. cramer, thank you very much for all the wisdom you share with us. >> sure do try. what's going on? >> caller: my stock is valley. i've been wrong and with the stock down should i hold, fold, double down? >> this used to be 28, 20, 32. it's been cut in half. we both think that at $17 this one is the chip. this is the way to play china because it's a huge iron work company. i want to own vale. let's go to terrence in new york. >> caller: hey, jim, i'm doing a portfolio for my professor alexander. i just want to know about general dynamics. >> i think general dynamics is a winner. why i do say that? i think we will avoid the fiscal cliff. and $66 stock could go higher. that ladies and gentlemen is the conclusion of the lightning round. >> the lightning round is sponsored by td ameritrade. >> believe it or not, i actually used to be a mountain climber. what do you think? always had the best
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